Which banks offer interest only?

[jenolan]

Hi,

I have part of my mortgage on a Capital and Interest Basis and part of it on an Interest Only basis. I'm with Bank of Scotland at the moment but am looking to move somewhere to get a fixed rate.

Can you tell me what other banks will do this?

Thanks

 

[NorfBank]

Most of them will look at it but on a case by case basis. Your profile will have to be quite strong i.e employment, earnings and savings. Maximum interest only period will be 2-3 years.

www.moneybackmortgages.ie

 

[Howitzer]

I have part of my mortgage on a Capital and Interest Basis and part of it on an Interest Only basis.

Is this an investment mortgage?

This strikes me as quite an odd arrangement. I can understand splitting your mortgage Variable/Fixed but what's the benefit of IO/Capital?

 

[jenolan]

When I was taking out the mortgage initally my broker advised me to do it this way as it kept the overall repayments down.

I'm now thinking it might not have been the best idea?